Housing starts bounce back but might not mean recovery

06/17/2009 | NYTimes.com

After a steep decline in April, housing starts rebounded in May. The 17.2% increase spurred speculation that housing and construction markets have hit bottom, but experts warned that a recovery might be a ways off. "There's a real possibility they will just stall at a low level," said Kenneth Simonson, chief economist of the Associated General Contractors of America. "If the recent jump in interest rates is sustained, that could choke off buyer enthusiasm for new homes."

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